Housing Market Climbing Back
- Image by Cornell University Library via Flickr
Mid-Atlantic Region Shows Signs of Recovery
Rockville, MD – RealEstate Business Intelligence-RBI, just issued its August 2010 Mid-Atlantic real estate market report which shows signs that home prices and days on market are experiencing positive changes as the summer selling season nears its close.
“Recuperation is slowly underway in the Mid-Atlantic region’s housing market,” said Jonathan Hill, President of RBI. “New contracts increased while new listings declined from last month. These factors, combined with an increase in average sold price and a decrease in average days on market over the same period last year, point to increased solidity in the housing market.”
- Prince George’s County YTD sales have increased by 44 percent over last year, after also increasing during July.
- Baltimore City showed an increase of 10 percent in sales compared to August 2009.
- The District of Columbia sustained a $36,000 increase in average sales price (7 percent).
- Prices in Virginia increased by 7 percent compared to August 2009
- Average sales price in Baltimore County increased by $15,000 over last month
